Social Networking and Small and Medium Enterprises - Literature review Example

The author of this literature review "Social Networking and Small and Medium Enterprises" brings out that social networking is defined as the online building of communities of people linked by similar interests and goals. Examples of social networking sites include MySpace, LinkedIn, Bebo, Facebook…

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Sicilia & Palazon (2008), conclude that social networking improves overall efficiency in operations of a business. This literature review summarizes and evaluates finding of diverse research work done in different parts of the world in regards to social networking and business. It focuses on the impacts of Social Networking to performance SME's in this modern age of telecommunication. Marketing, publicity, and communication are the main business activities in which SME’s integrate social networking and business (Rodgers and Thorson, 2000). The following literature review finds out how SMEs harness benefits rising form social networking and it also investigates how these enterprises try to mitigate risks of social networking which include reduced worker productivity, security and compromised the legality of operations (Williams, 2009, pg. 225-228). Large enterprises embrace social networking more than SME’s in their operations (Doherty and Ellis-Chadwick, 57, 2009). The majority of research has focused on large enterprises and how they merge social networking in their organization. There are three main areas which have received a little inquiry. These are the pros, cons, and barriers to social networking in SMEs. This justifies the need to explore this field with interest. Growth of Social Networking According to Weber (2009), both developed and developing states have experienced great effects on social networking development. More than 130 million Europeans are involved in social networking in one way or another. Between 2006 and 2007, Facebook grew by 270% whereas Bebo which is relatively more popular in the UK than the US by 172% (Weber, 2009). However, there are speculations that the amount of time people spend on social networks is reducing. This has been explained either as an indication in the growing completion in the social networks themselves or an indication that the record growth of 2006 and 2007 is not sustainable (Nikolaeva, 2006). Even with these explanations, the underway expansion of social networking website into non-English speaking countries shows that the influence it has will not fade out in the near future (Weber, 2009). According to the Institute of Real Estate Management (2010), members of IREM were asked to share ways they have used social networking as a tool to market their business to clients, manage properties, attract potential tenants or interact with current tenants. They also wanted to find out on the future prospects of social networking and results of their effort in integrating their areas of business with social networking. Klyuchnyk, in IREM (2010), indicated that potential clients can get the information they require in a moment. This may include information about rent or price of an apartment in another city or even photos and its location. In Brazil, Twitter and Facebook are used widely by traders and companies that sell and purchase real estate. This is according to Fernanda (IREM, 2010). However, law firms are a bit reluctant to exploit networking as they should as they feel that social networking is strongly focused on personal relations rather than law practice (Rodgers and Thorson, 2000). A legal claim can be justified from comments in blogs where residents may record comments against a building.
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...﻿Small and MediumEnterprises
Questions 1: The Impact of 2008 Recession on SMEs
Before the recession that began in 2008, SMEs were performing well and could access credit from financial institution to expand their operations. However, the recession brought about uncertainties on the future performance of businesses. Thus, small and mediumenterprises could not easily access credit. The credit approval rates reduced not only for SMEs but also for large institutions as well. The recession weakened the ability of lenders to meet the demand for loans especially without security. The economic downturn brought about financial difficulties in...

...Dissertation Proposal Strategies of small and mediumenterprise to continue their expansion with the effect of Globalisation By Ahmed Youssef Alsaleh
Academic Member,
King Fahd Naval Academy, Saudi Arabia
Introduction
Small and mediumenterprises (SMEs) are considered a key component of the local market, as they serve the customised needs of the local people and local industries. There was a time when such industries used to be the most influential ones for the local economy and the respective governments would do everything possible to keep the SMEs in good humour. But times have changed with the globalisation regime multinational enterprises have made a distinctive mark on the local markets as well. While on the one hand... ....

... in Small and Medium Sized Enterprises (SME's), the nuances of what an organization is that goes further than the definitions offered in the Abstract of this study, is necessary. It is people that comprise an organization, and as such it is a living entity that their collective efforts bring life to (McCann, 2004). The definitions and explanations offered did not emphasize the human or social aspect of organizations, which is the foundation from which they operate.
Organizations are formalized entities of people that work together to achieve a common goal or objective (Aharon, 1996, p. 67). In equating the relationships that form the subject of this study, it is important to understand that it is the elements, these elements... ...

.... Goodwill of a business is generated through its customer base, reputation and overall business profile in the market. Without properly exhibiting its social responsibility phenomenon businesses can no longer attract higher population. As for the Small and Medium Sized Enterprises (SMEs), at the first glance, social and environmental responsibility seems to be an additional burden. However, a survey suggests that 88% of the population under review suggested more inclination towards purchasing goods from organizations that are running campaigns or putting efforts for the improvement of society (Murthy & Krishna, 2010: p. 166). The UK based company B&Q...

...a worldwide interaction that is of a significant scope and the changes that have been taking place in the internet have been able to provide new opportunities and benefits that the small and mediumenterprises can be able to enjoy. This is because it simplifies communication and the dissemination of information through newer applications that are in the network environments that are the socialnetworks.
In the recent times, the internet has been presented as a platform that assists in providing greater access that allows individuals to use it at anytime from anywhere in the globe. New environment that came up included Facebook, twitter...

... Facebook, Twitter, Gmail and other social interaction sites where companies suspect to have a rich clientele. Companies have taken onto face book and twitter mostly to reach out to their clients. This enhances companies to get a direct feedback from their clients. This strategy is very efficient mostly for small group of companies that are not well established. One such company is the Anoto Group. It (Anoto) is a Swedish-based technology company engaged in providing digital writing solutions, through its 103 employees based at operations in Sweden, the US, Japan and the UK (Group 2013).
Smallmediumenterprise companies are increasingly adopting social media strategy as means of increasing their market share and sales volume... . This is...

...and bookings had grown up by £150,000 of new business (Coleman 2012). This huge fan base on social media networks is what drives the cost effective advertisement and marketing on social media for SMEs.
Finally, social media provides an efficient platform for communication to external parties. As documented by Kahar et al. (2012), social media enable small and medium-sized enterprises to pass across information on new products and services and innovative ideas that could appeal to customers and enhance transparency. Moreover, Holmes (2012) observes that social media has helped SMEs handle...

...Federation of Accountants (April, 2010). The Role of Small and Medium Practices in Providing Business Support to Small- and Medium-sized Enterprises
http://www.ifac.org/sites/default/files/publications/files/the-role-of-small-and-mediu.pdf
Ayyagari, Beck and Demirguc- Kunt (2005). Small and MediumEnterprises across the Globe http://siteresources.worldbank.org/DEC/Resources/847971114437274304/SME_globe.pdf
Shara L., Daniel R., Deanna T., Charlotte R., Irving A., Dean A. (2010), (Page. 18) Small and Medium-Sized Enterprises: Overview...

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Social Media for Small to MediumEnterprises
Introduction
Technology has considerably helped and changed the human cause. Technology affects individuals’ lives in terms of economic, social, and political lives. Technology, especially, is critical to modern business in terms of production and coordination of marketing. The internet, a technological phenomenon, has had a profound impact on modern businesses and related entities. In recent times, the internet has helped towards globalization and internationalization of businesses as products, credit, resources, and ideas flow across borders. The internet performs a dual role in business. In this sense, it...

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